Those who are new to crypto always have this doubt: is there a “market close” like in traditional exchanges?
The answer is yes and no. Bitcoin operates 24/7 without stopping, but traders use a daily closing cycle to measure performance:
The daily cycle: It starts at 00:00:00 UTC and ends at 23:59:59 UTC. It's what they call “daily close”. At the end, they compare the current price with that of exactly 24 hours ago.
Peak hours: Between 8 a.m. and 4 p.m. (local time) is when there is the highest trading volume, as it coincides with business hours in major regions.
Daily vs Weekly Candles: A daily candle closes and opens a new one at 00:00:00 UTC. Weekly candles close when the daily candle on Sunday closes.
In summary: there is no “close” as such, but there is a daily reference point that everyone uses to analyze movements.
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When does the Bitcoin market close?
Those who are new to crypto always have this doubt: is there a “market close” like in traditional exchanges?
The answer is yes and no. Bitcoin operates 24/7 without stopping, but traders use a daily closing cycle to measure performance:
The daily cycle: It starts at 00:00:00 UTC and ends at 23:59:59 UTC. It's what they call “daily close”. At the end, they compare the current price with that of exactly 24 hours ago.
Peak hours: Between 8 a.m. and 4 p.m. (local time) is when there is the highest trading volume, as it coincides with business hours in major regions.
Daily vs Weekly Candles: A daily candle closes and opens a new one at 00:00:00 UTC. Weekly candles close when the daily candle on Sunday closes.
In summary: there is no “close” as such, but there is a daily reference point that everyone uses to analyze movements.